Struggling Drkoop.com Gets Buyout Offer

FRAMINGHAM (07/21/2000) - MillenniumHealth Communications Inc., a Reston, Va., company that operates a health care news service and an online marketplace for buying and selling medical equipment, today announced an offer to buy struggling online medical information provider drkoop.com Inc.

The terms of the acquisition bid weren't disclosed, and neither company could be reached for comment this afternoon. Austin, Texas-based drkoop.com is one of the high-profile Internet companies that ran into financial troubles this spring as funding began to dry up for unprofitable e-commerce ventures.

In a filing submitted to the U.S. Securities and Exchange Commission earlier this week, drkoop.com said it expects to report a loss for the second quarter on revenue of just $2.5 million to $3 million. The company also announced that both its chief operating officer and chief financial officer were resigning.

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